Dividend Policy Essay Example | Topics and Well Written Essays - 1250 words

Dividend Policy - Essay Example Various analysts have examined that the dividend policy could highly affect shareholders’ wealth (Gul et al., 2012). The ability of a firm to distribute cash and increase the wealth of shareholders depends on the earnings capability of the firm and its capacity to raise fund from the external sources (Brealey, 2012). There are two ways of raising funds which are debt and equity (Kelly, 2012). Debts are the instrument where the holder gets a fixed payment along with interest (Denis and McKeon, 2012). On the other hand, the equity holders are the owner of the company to the extent of their holding (Hillier et al., 2011). However, as per the Modigiliani and Miller (M&M) model, the dividend policy of an organization has negligible or no effect on the shareholder’s wealth because the firm value is independent of its dividend policy. Moreover, in the accounting process, the dividend paid or received is calculated in cash flow which is very important for calculating the enterp rise value through discounted cash flow method (Brooks and Mukherjee, 2013). Policy Structure of Tesco PlcTesco Plc is one of the largest retailers globally. It is a British multinational, founded in 1919 and is headquartered in England. The payment of dividend has been consistent for 5 years. Nevertheless, in recent days, the wealth of shareholders has been weak as the profit generation of Tesco has been low, but it recovered in 2013-14 as the dividend paid is  £1,193m in comparison to  £1,186m in 2012-13.

Life in Prison Essay Example | Topics and Well Written Essays - 500 words

Life in Prison - Essay Example The text provided me with a comprehensive view of this subject. b. There are different strategies being used by "Anonymous N. Inmate" and the other inmates in their adjustment to the prison system. Some attempt to become more involved in prison lives in a good way, occupying themselves with programs and activities that pass the time, like reading, drawing, getting a job, educating themselves, participating in religious activities and other activities. These are used as ways to escape the difficult reality of living within the prison compound. Others choose do behave differently; engaging in the economy of illegal goods and services, prison politics, joining a gang, etc. Both methods are, in a way, forms of escapism of the reality and keeping one engaged and busy. Another adaptation to life in prison is that which involves sex in prison. While some prisoners opt to only masturbate, others begin having sex with other men, while picturing women. The dire lack of any women and the possibility to have sex with someone of your own choice leads them to doing this. This is clearly an adaptation difficult to make, but statistics show that between 12 and up to 65 percent of prisoners do this. c. The inmates need for respect, hope and safety contributes to the correctional policy to a great extent. By knowing what the prisoner needs and aspires to, the correctional system can adapt its methods of conduct, its strategies of operation, its rewards and punishments to these needs of the prisoners. For example, prisoners who exhibit a good behavior could be granted with special freedoms or privileges, something which will enhance their sense of being respected and valued. These prisoners could be commended on their good behavior, encouraging them to keep it up. In the same way, while of course keeping a humane and reasonable approach, prisoners who misbehave should be discouraged from continuing this form of conduct. d. The facility in